As a developer, I can tell you that construction financing is very, very difficult right now, and that even in good times you would have to sign a personal guaranty (which in today's times, means the bank will hire a proctologist to make sure it understands your personal assets and that they are all pledged).

Your best bet is to contact the asset manager and not BONY Mellon.

hey gang,so i have been looking to finally protect my assets with an llc. my question is, is it worth going with a wyoming or nevada llc?

If one wishes to carry back paper on an asset they own free and clear and later pledge the loan receivables as collateral for a new loan who would they normally contact to loan this money?

We're seeing less than 5 months of inventory which is starting to look like a sellers market here.Are the banks waiting to unload some assets any time soon?

If you have little experience and no assets probably closer to 50/50.

You'll likely need to estimate the basis of the land and property separately as land is not a depreciable asset.

Well asset managers sell a non listed property?

Yes, probably uncooperative junior lien holders, or the bank saw that the seller had additional assets or a good job such that they could effectively go after them on a deficiency judgment, versus the SS where the seller was probably negotiating hard to be fully released from the debt.

The preliminary title search or report must also confirm that there are no liens on the subject property.o The source of funds for the purchase transaction must be documented (bank statements, personal loan documents, HELOC on another property).o If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the HUD-1 for the refinance transaction must reflect that all cash-out proceeds be used to pay down, if applicable, the loan (unsecured or secured by an asset other than the subject property) used to purchase the property.